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Within a day of their $25 billion merger’s falling apart in court, Kroger and Albertsons were each planning to move forward with share repurchases to boost their stock prices and reward investors. America’s two largest grocery store operators had argued that they’d be better able to lower prices for shoppers by joining forces. On Wednesday, Albertsons terminated the deal and sued Kroger, alleging its erstwhile partner didn’t do enough to secure regulators’ blessing. The drama unfolded just as the federal government released new inflation data for November showing grocery prices continue to inch higher. Wall Street investment firm Cerberus Capital Management, Vanguard, BlackRock and billionaire investor Warren Buffett’s Berkshire Hathaway conglomerate are the top owners of Kroger shares.
Persons: they’d, Biden, Adrienne Nelson, , Kroger, didn’t, Warren Buffett’s, Neil Saunders, ’ ”, Albertsons ’, Seth Harris, Thomas Gremillion, Trump, ” Gremillion, Donald Trump’s, Andrew Ferguson, Lina Khan, Harris, “ Bacon Organizations: Kroger, Albertsons, Walmart, Costco, Amazon, Federal Trade Commission, Wednesday, , The Vanguard Group, Wall, Cerberus Capital Management, Vanguard, BlackRock, Warren Buffett’s Berkshire Hathaway, , Biden, Northeastern University, Biden White, Consumer Federation of America, New York Stock Exchange Locations: Oregon, Seattle, BlackRock, Kittanning , Pennsylvania
Companies Hormel Foods Corp FollowNov 15 (Reuters) - Hormel Foods' labeling of a meat product line as "natural" despite using the same hogs and production methods as its other brands shows the U.S. meat labeling system needs reforms, said consumer advocates and documents released on Tuesday from a lawsuit the company is close to settling. “This is an endemic problem, not a Hormel problem.”Hormel said the company complies with USDA rules and guidelines for labeling and that it stands behind its Natural Choice products. "The term ‘natural’ is practically unregulated and can/will be used widely – as a result there is little to no difference between ‘natural’ meat and ‘conventional’ meat," read the slides, which were part of the document release. The presentation also advised companies to appeal to consumers' desire for wholesome products by packaging their meat in cardboard. Hormel and ALDF asked the court to dismiss the case last Thursday after agreeing to settlement terms.
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